'Too big to ignore' housing problem top priority for productivity commissioner
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Australia's housing affordability problem is too big to ignore, with the federal government unlikely to meet its 1.2 million new homes target. The Productivity Commission chair calls for ambitious productivity reforms to improve housing supply.
Australia's housing affordability issue is a pressing concern, according to Productivity Commission chair Danielle Wood. The federal government's target of building 1.2 million new homes is unlikely to be met, she said. Wood attributes the problem to planning rules, zoning restrictions, and decreased construction productivity. Residential construction productivity has fallen by 12% over the past three decades. Wood advocates for ambitious productivity reforms, including corporate tax reforms, to address the issue. She believes that increasing housing supply is key to improving affordability, but notes that it will take decades to achieve.
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